Cryptocurrency

Bitcoin, warehouses of computers solving maths puzzles, get-rich-quick schemes and the wheat and the weeds

Recent news headlines have been full of discussion of the current ‘crypto winter’, a season where the value of cryptocurrencies has plummeted causing financial devastation and destroying what looked like thriving crypto institutions. This week we’re joined by Christian tech writer and Baptist minister Chris Goswami to try to unpick how we should feel as believers about cryptocurrencies and their dramatic fall in recent months. What is bitcoin, and is it any different to previous internet-based tech industries we could invest in which have boomed and gone bust over the years? Is crypto just a Ponzi scheme, a 21st century version of Tulipmania, or is there something useful and transformative being built on the blockchain?

In the second part of our discussion with Chris Goswami, we dive into some of the ethical arguments for and against cryptocurrencies. Are they providing financial liberation for some of the poor and excluded communities in the developing world, or simply luring vulnerable under-educated people into shady scams? What does properly Christian investment look like and could putting our money into crypto be an example of this? And how can we grow in wisdom and discernment as believers so that we can pick our way through this wildly accelerating field of technological advancement, avoiding what is harmful while pursuing the good?

Find more of Chris’s writing on tech and faith at his website

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